Last week’s interest rate cut was supposed lower borrowing costs across the economy. But there’s been a surprising coda: The interest rate on the 10-year T-note went up. So, while the Federal Reserve intended to provide an economic reprieve, some loans may have become just a little more expensive. Also in this episode: New York and Las Vegas lead in home price growth, cement needs to go green and soft skills strengthen job skills.


Good job, everyone! We’re working harder — or at least, more efficiently. Despite a cooling labor market, we’re producing more product per hour, which has major economic benefits. In the long run, that should boost the economy and heat up hiring — hopefully. Also in this episode: The military tries lowering its aircrafts’ carbon footprint; Shanghai modernizes its e-payments for visitors; and while women are a growing Formula One fan base, they aren’t yet in the driver’s seat.
 
 


Let’s get productive

The average rate on a 30-year fixed mortgage is 6% right now — a better deal than 8%, which is where rates were a year ago. But home prices have grown tremendously in the past several years. So how much can falling rates really help prospective buyers? Also in this episode: a customs broker preps for a potential port strike, Dame Judi Dench could be your next AI assistant, and college football conference shake-ups are all about the money.


Housing market check-in

The Fed cut, but the T-note yield went up. Oops!

There’s a good chance you’ve used a computer powered by Intel — it’s a longtime Silicon Valley giant. But rival chipmaker Qualcomm is looking to get bigger. In this episode, why Intel, legendary but past its prime, may be ripe for takeover. Plus: Southwest Airlines faces pressure from an activist investor, talking to a human customer service rep has become a privilege and federally sponsored free COVID tests are back.
 
 


Inside Intel’s issues

Ever wanted to burn up physical manifestations of the year’s heart-wrenching grief and financial dread in a 50-foot-tall, marionette-shaped effigy? Same! In this episode, we visit the 100th Burning of Zozobra in Santa Fe, New Mexico, where attendees do just that. Plus: Climate change may be to blame for pricey potato chips and corporations rehire old executives in unstable times.


The working man’s Burning Man

Interest rates fell in the wake of yesterday’s cut by the Federal Reserve — kinda. Truth is, most lenders had anticipated this move for a while and already lowered their rates before the Fed’s announcement. But we’ll have to wait for some of the other ripple effects. Also in this episode: Educators cautiously consider artificial intelligence products, consumers aren’t too interested in the new iPhone and we visit a remote edge of Alaska where national security and climate change clash.


Is it cheaper to borrow now?

Federal Reserve policymakers met this week and announced they’re cutting interest rates by half a percentage point. That’s meant to buoy the economy, but getting the public to understand why rates have been high, and why now’s the time to cut, is tricky. In this episode, experts weigh in on Chair Jerome Powell’s communication prowess. Plus, Gen Zers feel the pain of a tight job market combined with high prices, and we travel back in time to a Fed rate cut in 2019.


Powell’s value-added messaging

Since the COVID pandemic started, you’ve been shopping online more, right? Though consumer spending remained relatively stable over the past year, shopping at nonstore retailers (i.e., e-commerce) grew nearly 8%. We get it, it’s more convenient and safer, pandemic-wise. But how are brick-and-mortars adapting? Also in this episode: Corporate execs spout similar economic lingo, our electric grid’s got green energy shortcomings and rate cut anticipation raises homebuilders’ confidence.


Shop online till you drop

For years, global oil demand has ticked up, mostly thanks to China’s voracious consumption. But real estate trouble combined with widespread electric vehicle adoption means China’s not guzzling oil like it used to. In this episode, the impact on the global oil market. Plus: A dockworker strike could put snags in holiday shopping, flight attendants dislike delays as much as you do and four states will vote on bond measures in November.


Oil demand not so energetic

Everyone’s favorite aircraft manufacturer is back in the news — 30,000 Boeing machinist union members are on strike over pay. Typically, flyers don’t care what plane they’re on, as long as it gets them to the right place safely. But Boeing has had a year of high-profile controversies. Will the strike put the company into free fall? Also in this episode: Dollar stores struggle, Sierra Mist fizzles out and Jack’s Family Restaurants thrives in rural towns.


Boeing machinists on strike

Today in Econ 101, we’re talking yield curve. In a typical economy, the longer a bond’s duration, the more interest it yields. The inverse — shorter duration, higher yields — usually means a recession is coming. We’ve been seeing an inverted yield curve in the U.S. financial system for nearly two years. So, where’s the recession? Also in this episode: Credit card delinquencies hit a 12-year high and we visit U.S. troops preparing for climate change.


This is the sound of an inverted yield curve

Annual inflation, according to the consumer price index, fell to a multiyear low in August. That’s great, but we’re still half a percentage point away from the Federal Reserve’s 2% goal. What’s holding up prices? Also in this episode: Campbell’s wants us to know it sells more than soup, recession alarm bells are ringing — but maybe not for the reason you think — and will companies that already collect our data please stop sending us surveys?


Closer, but not there

Since 1970, Amtrak has run U.S. passenger rail service and — per a formal agreement with private railroad companies — those passenger trains get preference over cargo carriers on the tracks. But now, the Department of Justice says freight companies are breaking the rules. Also in this episode, more moving: New pipelines carry excess natural gas out of Permian Basin fields, programs that help families move into affordable housing assist with repairs too, and farmers pressure Congress to budge on the delayed farm bill.


Movin’ right along

When the August consumer price index is released Wednesday, it’ll be the final major inflation report before the Federal Reserve’s policymakers meet next week, when they’re expected to cut interest rates. But how important is the CPI as a gut check this time around? Also in this episode, backup generators are too expensive for many older Texans who need them most, China makes electric vehicles that seem impossibly cheap, and U.S. leaders show interest in a sovereign wealth fund.


The Fed’s last gut check

The Inflation Reduction Act set aside $369 billion to invest in climate change programs and energy security two years ago. So far, when it comes to the percentage of IRA dollars claimed by state, Nevada ranks No. 1. In fact, the states that spent the most per capita last year aren’t Democratic strongholds either. In this episode, why Republican governors are leaning into clean energy. We’ll also hear from three “Marketplace” regulars about their jobs in the “analog” age, and dig into the August jobs report.


And in first place … Nevada!

As the presidential race heats up, we’re sure to hear more about immigrants and how they affect the U.S. economy. In this episode, we break down immigration’s impact on housing, tax revenue, consumer spending and the labor market. Plus, 8 million student loan borrowers are in limbo while President Joe Biden’s SAVE plan is challenged in court. Also: Lots of small businesses can’t afford to hire, and energy storage batteries may be coming to an electric grid near you.


The economics of immigration

The job market is the tightest it’s been in over three years — but don’t freak out. There are still more open positions than there are job seekers right now. But some experts are stressing about what the labor market may look like in a few months. Would potential interest rate cuts influence job creation in 2025? Also in this episode: The services sector is looking better than manufacturing, U.S. war stockpiles have climate-friendly uses and we check in with a former restaurateur who pivoted to consulting.


Who’s still hiring?

Nearly a quarter of overweight or obese adults in the U.S. have taken a GLP-1 — a class of weight loss drugs that includes Ozempic. But in some states, Medicaid doesn’t cover GLP-1s, though low-income Americans are more likely to be overweight or obese. In this episode: Who can access or afford this new medicine? Plus, striking hotel workers want higher pay and a return to pre-pandemic norms, the Federal Trade Commission is making it easier to cancel unwanted subscriptions, and the manufacturing sector is in a rut.


Who can get Ozempic?

Consumers’ long-term economic outlook were a bit more positive in August, data from the University of Michigan shows. So if your in-laws were in a better mood on Labor Day than they were, say, on the Fourth of July, that could be why. In this episode, we get into why some Americans are feeling good about the economy while others still feel like they’re struggling to make ends meet. Plus, pediatricians have to make tough decisions about how many COVID-19 vaccine doses to purchase and new Department of Transportation rules require airlines to reimburse passengers’ costs for canceled and significantly delayed flights, no matter the cause.


A turning point for the “vibecession”?

New data shows that while consumer spending is strong, Americans aren’t saving like they used to. But the pandemic made year-to-year comparisons a bit misleading. So are consumer habits normalizing after an unusual economic period, or should we be concerned that savings have taken a dip? Also in this episode: Some businesses prefer to operate on a “fiscal” calendar, public swimming pools try to stay afloat and corporate tax changes may be important in this year’s election.


Spending more, saving less

Why is the U.S. dollar losing steam? The short version: Falling demand for the currency drags its value down. Since the Federal Reserve is likely to cut interest rates soon, investors aren’t racing to buy U.S. bonds. And you need U.S. dollars to buy U.S. bonds … you get the picture. In this episode, more on currency fluctuations — and why the dollar losing value isn’t all bad. Plus: Businesses investing in themselves drove up second-quarter GDP, China has a burgeoning black market for Nvidia semiconductors and human bodies make great compost.


A weaker dollar

What if every American household and business had access to high-speed internet? That’s what the Broadband Equity, Access, and Deployment program, a federally funded project, aims to accomplish. As part of our “Breaking Ground” series, we visit a town in Kentucky that’s had universal fiber-optic internet connections since 2014, thanks to a cable utilities cooperative and Great Recession-era stimulus funding. Could McKee be a model for what the U.S. might look like if the BEAD program achieves its goal?


Breaking Ground: Here’s what universal broadband access could look like

Roughly 200,000 Kentucky households lack internet access or are “underserved,” according to Meghan Sandfoss, executive director of the state’s Office of Broadband Development. It’s her job to open digital doors for all those residents, rural and otherwise — a tricky task that involves coordinating federal, state and local offices as well as internet service providers, nonprofits and engineers. In this episode, we’ll upack the process of hooking up homes to a fiber-optic network, including getting local buy-in, developing detailed maps and navigating environmental challenges.



Breaking Ground: Bringing high-speed internet to every home in Kentucky

Bringing high-speed internet access to every U.S. household is one goal of the Bipartisan Infrastructure Law. To do that, we’re gonna need a lot more fiber-optic cables. Per the Build America Buy America Act, the $42 billion in federal funding designated for expanding high-speed internet access has to be spent on American-made cables and the optical fibers that make them up. So in this episode, we’ll visit a factory in Claremont, North Carolina, to see how they’re made and learn why the U.S. wants fiber prioritized over other ways to connect to the internet.


Breaking Ground: How are fiber-optic cables made?

In this century, reliable internet access isn’t just a want — for many, it’s a need. The federal government is spending billions to bring broadband to underserved areas, but in the meantime, for residents of those hard-to-reach places, libraries are often the only place to access high-speed internet. In this episode, we visit an internet-providing library in rural Kentucky. Plus: Automakers expected a faster EV investment payoff, and prospective homebuyers play the falling-mortgage-rate waiting game.


Libraries are still an internet lifeline

For many old hotels and motels, the most reliable guests may be ghosts in the attic. Unfortunately, they’re not paying the nightly rate. Worse, many hotels with empty rooms are surrounded by communities suffering housing shortages. Instead of closing their doors, they’re being converted into transitional housing for low-income people with the help of nonprofit organizations. In this episode, we visit one. Plus, retirees feel financially stable while working Americans don’t, Fortune 500 firms fear AI and rural parents struggle with living in “child care deserts.”


Hotel, motel, affordable home?

The Bureau of Labor Statistics just revised its count of new jobs created between March of last year and March of this year. Although revisions are routine, this was a big one: 818,000 fewer than it initially calculated. In this episode, what the new numbers means for the labor market and the Federal Reserve. Plus, a pig farmer keeps tabs on the presidential race, retailers use “newness” to reel in shoppers, and the U.S. counties with the best and worst employment growth.


Hey, it’s still job growth

The gap between median household income and median income for homebuyers in the U.S. has been growing, putting housing affordability in its “worst spot” in the last 40 years, an economist told us. In this episode: How homeownership got so out of reach. Plus, a tax deduction business owners love expires in 2025, community colleges that are more training ground than stepping stone, and the debate over open-source AI.


How homeownership got so out of reach

When consumers can’t afford what they used to, many are drawn to inexpensive luxuries. Take the so-called lipstick index: When the economy slumps, lipstick sales go up. So what does it mean, economically, that luxury beauty brand Estée Lauder reported sales were down 2% compared to last year? In this episode: shifting consumer beauty habits in the U.S. and China. Plus, everyone’s signing NDAs these days, convenience stores are upping their grub offerings and California fast-food workers got a major raise, but what about prices?


Luxury beauty products have lost some of their glow

The presidential campaign has been full of economic promises. Do you pick the contender vowing to reduce food costs and invest in housing? Or the one promising more tariffs and oil drilling? Promises can become targets for the opposition, even if they have little chance of being carried out in their original form. Which leaves some voters wondering: Do policy goals pitched on the campaign trail matter? Plus: The insurance boogeyman creeps up behind condos and a Pennsylvania town navigates life without a coal plant.


Campaign promises and what happens later

Even though unemployment has bumped up, retail sales are going strong. Consumers spent $7 billion more in July than in June, the Census Bureau reported. Food, clothing, appliances and other categories saw sales growth over 2023. In this episode, is all that spending the force that’s keeping our economy afloat? Plus, the pros and cons of “dual agency” in real estate transactions and why Atlanta Federal Reserve President Raphael Bostic counsels patience.


Just keep spending

For the first time in years, the consumer price index — one measure of inflation — fell below 3%. That’s good for Americans and the Federal Reserve, which has a dual mandate to maintain stable prices and maximum employment. But as inflation has chilled out, so has the job market. What can the Fed do about it? Also in this episode: Mars bets that America will keep snacking, the lag in housing inflation data, and one interest rate to rule them all?


Time for the Fed to pivot?

When you think “high prices,” you might think of stressed family budgets. But small businesses have to pay up too. Nevertheless, small-business optimism hit a two-year high last month, but it remains under the 50-year average. We’ll visit a boutique in New York and a bookstore chain in Georgia to get entrepreneurs’ on-the-ground perspectives. Also in this episode: New labor data could signal that interest-rate cuts are imminent, snack companies cook up Ozempic-friendly treats and Canada steps into the crude oil supplier spotlight.


Taking the temperature of small business

Last week, when the stock market took a tumble, some investors put their cash into bonds instead. Why? Well, we tend to think of the stock and bond markets as having an inverse relationship: when stocks do well, bonds do worse. But when the economy gets wonky, that relationship doesn’t necessarily hold. Also in this episode: Aging Chinatown residents struggle to pass the baton, consumers guess where the economy is headed next, and we ride an Amtrak train from Los Angeles to Portland, Oregon.


The ol’ stock-bond balancing act

A lot of folks like to weigh in on what the Federal Reserve should do with interest rates; Donald Trump said this week that if he were to reoccupy the White House, he should have a say in setting monetary policy. But keeping the Fed free of political pressure is important for several reasons. We’ll get into them. Also: Oklahoma tribal nations fill a gap in federal food aid for kids, Oregon ranchers deal with major wildfire losses, and theme park attendance dips.


The politics of Fed independence

The back-to-school shopping season is well underway. But with stubborn high prices in this economy, how will parents get their kids ready without feeling financially burdened? Also: decoding quarterly earnings, what goes into pricing mortgage rates, and why airport food is so expensive. Plus: A projectionist remembers his reel life.


This back-to-school season, “value” is at the top of America’s shopping list

Since the 1970s, the Federal Reserve has been officially tasked with a dual mandate: keeping prices stable and maximizing employment. But has the Fed ever found that sweet spot? It would be easier to answer if the economy wasn’t always in flux. Also: Disney’s streaming service posts its first profit, what we can learn from women entrepreneurs of the 19th century, and noise from a bitcoin mine haunts people in a rural Texas town.


Has the Fed ever met its 2 goals?

How are people feeling about the economy after the dramatic drop in stocks? They’re “Googling the word ‘recession’ like crazy,” an economics professor told us. On the show today: Why perception is so important in economics. Also: The not-so-bad reasons for the higher unemployment rate, what the Google antitrust ruling could mean for Big Tech, and stealth shopping — hiding purchases from partners — is on the rise.


Why we freak out when the stock market freaks out

These aren’t words you want to hear about the stock market, but here we are. Global markets, including the major U.S. indexes, tanked today. Along with stocks, crude oil prices also took a hit. We’ll look at the causes and what might happen next. Also, the critical role of exporting services in this economy and a status report on a possible TikTok sale.


“Chaotic,” “volatile,” “tumultuous”

Job creation slowed sharply in July, the Labor Department reported today. One sector that took a hit is information and entertainment. That includes data processors, moviemakers, software publishers and — ahem — broadcasters and news websites. Do  those job losses signal a meaningful change or was it just an off month for the field? Plus, shipping rates may come down next year, the Spanish-language interpretation industry is expected to grow, and remember when cellphones had antennas?


The information industry takes a hit

Strong productivity growth last quarter coupled with recent wage growth means we’re generating more output and, at least to some extent, getting paid for it. In this episode, why productivity growth prevents a wage-price spiral. Plus, California wants to build an offshore wind turbine assembly plant, national economics impact national performance in the Olympics and equity-rich homeowners can’t do much with their housing wealth right now.


Making more stuff without working more hours

The Federal Reserve kept its key interest rate as is today, but rate adjustments aren’t the only monetary policy tool at the Fed’s disposal — don’t forget quantitative tightening and easing. In this episode, we explain why buying and selling government debt can help to balance out the economy. Plus, companies look for smaller but swankier offices, New Jersey has 70,000 units of affordable housing thanks to a decades-long legal saga and the oil industry tries to guess when oil demand will peak.


Other ways the Fed wields its influence

When Big Tech earnings reports come out this week, traders will scrutinize how much was spent on artificial intelligence. The billions of dollars invested haven’t translated into profit — at least not yet — and Wall Street is getting impatient. Also in this episode: We’ll break down the latest job openings data, uncover why housing contract cancellations are rising and hear from a real estate broker about the market in Houston.


Where’s the AI spending payoff?

McDonald’s reported weak sales in its second quarter. A slowdown in restaurant spending — if that’s what’s happening — may signal an economic downturn is brewing. Or, are the chain’s underwhelming results a byproduct of pandemic spending trends or rising wages? Also in this episode: Being a firstborn kid has its economic advantages and three major central banks are meeting this week. Plus, we’ll explain how maximum employment is measured.


A fast food “canary in the coal mine”

The good news? The Commerce Department says personal income and consumption were up in June. Bad news is savings didn’t rise with ’em. In fact, high interest rates and high prices have battered the personal savings rate down to an almost two-year low, leaving many households without a financial security cushion. In this episode, we’ll also get into why national manufacturing growth depends on where you are, and Boston is incentivizing office to residential real estate conversions.


A pretty, pretty good economy (for some)

New gross domestic product data just came in — GDP grew a healthy 2.8% annually in the second quarter, better than predicted. Meanwhile, consumers are focused on buying essentials and credit card debt is growing. In this episode, we’ll examine why GDP is strong while many everyday people feel squeezed for cash. Plus: New real estate broker fee rules take effect next month and the number of Americans who predict they’ll retire young is up.


Let’s zoom in

The last time Congress raised the federal minimum wage, it went up 70 cents — from $6.55 to $7.25 an hour. That was in 2009. Today, we’ll get into why there hasn’t been a successful push to boost it since then and who suffers as a result. Plus, officials in China promise major tax reform, apartment vacancies in Sun Belt cities rise and the Federal Reserve keeps an eye on GDP estimates.


Ringing in 15 years of the $7.25 federal minimum wage

“Act your wage,” “coffee badging,” “ghost jobs” — the internet is always vomiting up new workplace phrases. You may even use some of them to describe the bizarre job market of the past few years. So when popular work slang shifts from silly — “lazy girl jobs” — to grim — “quiet cutting” — are there hints about where the labor market is headed? Also in this episode: Tech firms ditch user counts, car sales motor on despite high costs and educators get educated about jobs at the Port of Baltimore.


Talking the (workplace) talk

In the face of major news, some say the bond market can signal what comes next economically. But so far, bond yields don’t seem to be reacting to Biden’s dropping out of the presidential race. In this episode, what the crystal ball of the economy does care about in regard to elections. Plus, business investments outpace GDP gains, Nvidia employees cash in on the chipmaker’s hockey stick-shaped earnings growth and Friday’s CrowdStrike crash reveals a common cybersecurity weakness.


Does the bond market care about Biden’s election exit?

Nearly every economic sector relies on secure technology networks: retailers, airlines, hospitals and more. After a faulty software update by cybersecurity giant CrowdStrike, businesses across the globe came screeching to a halt, dragging customers with them. In this episode, the tech firm behind today’s maddening “blue screen of death.” Plus: why the Federal Reserve plans communication blackouts, a former delivery driver remembers using chickens to mark her routes, and industry upheaval threatens an Alaskan fishing community.


The blue screen of death

The number of people filing for jobless benefits in each of the last two weeks rose. That means it’s taking job seekers longer to find employment. It’s also offers mild support to those who want to see lower interest rates. Also: Who’s spending and who isn’t? And what AI means for authors and publishers.


What do rising unemployment claims mean for the economy?

Now’s the time of year when many families look for a new home. But it’s a seemingly impossible market for first-time buyers: high prices, high mortgage rates, high insurance, low inventory. We’ll explain how some are pulling it off and why some experts believe lower home prices and rents are in sight. Also: State and local governments have been on a hiring spree, and business inventories are up.


It’s homebuying season

Retail sales numbers released today show spending was flat last month. But if you look a little deeper, you’ll see Americans spent more in June than May. What does this mean for the Federal Reserve as it considers lowering interest rates? Also: Homebuilders are feeling a little less confident, and AI is trying to read emotions. Plus, the nocturnal sprint at UPS’ one-day-shipping hub.


Consumers are still consuming

The economy seems to be coming in for a soft landing, and that’s a big reason banks are doing so well. Markets are up, emboldening companies to make merger deals, which they pay investment banks to execute. JPMorgan Chase just posted the highest quarterly net income for a bank in U.S. history — $18.1 billion. Also: On the eve of Amazon Prime Day, how a shipping hub handles quick turnarounds. Plus, another decline in China’s GDP, and a DJ looks back at her analog life spinning vinyl.


That lurking recession never showed up

Nearly a million Texans are without power after Hurricane Beryl damaged an already fragile energy grid. As they wait for the lights come back on, we’ll explain why pretty much the whole country needs costly energy grid updates, especially as climate change makes weather more extreme. Also in this episode: Students who attended for-profit colleges are drowning in debt, and legal experts break down what might happen to federal regulatory agencies without the Chevron deference.


America’s got a power grid problem

Inflation cooled for the third straight month in June, and borrowers hope rate cuts come soon. But will enough “good data” show up to ease the risks of a flare-up in prices? We break down the Fed’s decision-making process — and explain why shelter prices are one thing holding the central bank back. Also in this episode: Workers at the Port of Baltimore are full steam ahead as the region recovers from the Key Bridge collapse, and a SCOTUS decision opens the door to changes in tribal nation health care management.


Is the Fed getting closer?

Inquiring minds want to know: When will the Federal Reserve cut interest rates? Fed Chair Jay Powell isn’t ready to answer that question. But when rates are cut, there’s gonna be a lag before the Americans feels it. Also in this episode: Egg-freezing rates skyrocket as more employer benefits cover the procedure, the U.S. is less trade-oriented than other countries, and nearly half of Gen Xers aren’t financially on track to retire, a new study says.


How fast would the economy feel an interest rate cut?

The job market has cooled in recent months. The days of two openings per available worker may be over, but some sectors still have to struggle to find employees. One industry on a hot streak is health care, thanks in part to the continued workforce disruptions caused by COVID. Also in this episode: Small-business optimism rises despite cost concerns, tweens concoct potentially harmful “skin care smoothies” and steel prices sag as demand drops.


Health care is still hot in the job market

Paramount just announced a merger with Skydance, a film production company. The hope is that adding Skydance’s offerings to its streaming platforms will boost subscriptions. But streaming is a finicky business, where you have to be a top-tier service to thrive. Also in this episode: Dynamic pricing technology could be profitable for retailers, some Chinese families seek gentler school environments and Americans visit South Korea as skin care tourists.


How to succeed in streaming

Federal surveys aren’t great at collecting data on Native Americans. One reason? As many as 60% of people who check the American Indian/Alaska Native box on forms also check another race box, the Brookings Institution found. In this episode, we’ll explain how undercounting impacts the federal government’s fulfillment of its obligations to Native nations. Plus, we’ll take a trip down the Houston Ship Channel and dissect the latest jobs report.


How many Native people live in the U.S.? Good question.

The May jobs report said wages had risen about 4% over 12 months, while inflation was 3.3% over the same period. Good news, right? Then why did consumer sentiment hit a 7-month low in June? In this episode, other wages-related measurements that might explain that economic pessimism. Plus, a Yale legislation-scoring group focuses on outcomes, and precision agriculture technology adoption is slow.


The wages vs. inflation horse race

The Federal Reserve has a decision to make: cut interest rates to help the slackening job market and risk the progress it’s made in cooling inflation, or keep rates high — which could push unemployment up. In this episode, we’ll explain the economic inflection point and why interest rates don’t have the relationship to the labor market they once had. Plus, the presidential debate bumped up bond yields, the “beer industry” encompasses all types of drinks and customers nowadays, and one woman recalls her first 9-to-5.


The Federal Reserve’s fork in the road

Tuesday’s jobs report showed 200,000 more openings in May than the previous month — pretty yawn-worthy compared to the labor market roller coaster of the past few years. But don’t fret! All that boring data is actually a sign of stability. Also in this episode: Why organic produce is expensive to grow, what it’s going to take for global power sector emissions to fall, and which type of construction is dragging sector spending down.


That snooze-fest jobs report is probably a good thing

Lawrence Brown created “Urban Cipher,” a Monopoly-like game, to illustrate the consequences of neighborhood redlining. We’ll join Baltimore city educators at a professional development session led by Brown and hear how redlining continues to affect families today. Also in this episode: Lumber prices fall while housing remains expensive, Toys R Us dips its toe into AI-generated advertising and a landscape designer tells us about his job before the arrival of drafting software.


A rigged version of Monopoly

Today we learned that the conservative majority on the U.S. Supreme Court upheld a local law in Oregon that criminalizes sleeping in public places, authorizing punishment for homelessness. We’ll get into how this connects to the stalled housing market. Plus, SCOTUS curtails the powers of government agencies and national work-from-home rates reach a new normal.


Homelessness criminalized as home sales fall and prices rise

The Supreme Court has decided a case involving internal tribunals the SEC uses to enforce fraud rules. In this episode, we’ll hear from a legal scholar about the ruling’s implications for all sorts of federal regulatory bodies. The short of it? It will be harder for agencies to enforce laws and easier for people and companies to get away with breaking them. Plus: what “final sales” means in the Federal Reserve’s analysis of GDP and why continuing jobless claims are climbing.


SCOTUS curbs regulatory agencies’ powers. Again.

Over the past few months, the Biden administration has announced new tariffs — on top of existing Trump-era ones. The period for public comment on them is nearly over, so we’ll hear business owners’ views on the levies’ likely impact on sales. Also in this episode: An all-female fire crew burns barriers, Google phases out infinite scroll and the U.S. semiconductor industry sorta relies on a hard-to-win visa lottery.


How about those new tariffs?

Data shows that the U.S. has a strong, thriving economy. Layoffs are at a multidecade low and wages have risen faster than prices. Despite all that and more, many Americans are feeling economic pain. What gives? Also in this episode, third-generation tuna fishermen rethink their livelihood as waters warm. We’ll also explain why most countries buy oil in U.S. dollars and whether the federal minimum wage matters anymore.


Why so miserable?

Red Lake Nation’s chairman, Darrell G. Seki Sr., wants to make energy free for all his nation’s citizens. Inflation Reduction Act funding could enable that by subsidizing the installation of more solar panels throughout their northern Minnesota reservation. In this episode, “Marketplace” host Kai Ryssdal visits Red Lake and hears from residents about their solar-powered goals and how clean energy connects to cultural values around environmental stewardship.


Breaking Ground: Red Lake Nation’s solar-powered future

Florida-based Citizens Property Insurance Corp. wants to raise rates an average of 14%. But Citizens is the Sunshine State’s insurer of last resort — it’s backed by the state and tasked with covering homeowners who have no other options as private insurers pull out. What will Floridians do? Also in this episode: Environmentalists advocate more composting, a cyberattack forces thousands of car dealerships to go analog and oceanographers map the world’s seafloor.


Last resort

Three years ago, a town of 2,500 formed an unlikely relationship with multibillionaire Bill Gates. He had new nuclear technology and Kemmerer, Wyoming, had a declining coal industry. This week, Gates broke ground on a first-of-its-kind power plant. Will it revive a struggling local economy or upheave the small community’s way of life? Also in this episode: Summer gasoline use is down, Nvidia dominates AI chipmaking and apartment buildings aren’t being built — despite high demand for more housing.


Bill Gates goes nuclear, turning a small coal town upside down

Credit card delinquencies are up overall in the past year — but that’s not the whole debt picture. Wealthier consumers can pay off their debt right now, driving up the nation’s average credit score. It’s a tale of two Americas. Also in this episode: Federal data reveals that nearly 1 in 4 Black prospective homeowners are denied a mortgage, and we catch up with a couple whose gift-giving journey was featured on “This Is Uncomfortable.”


Credit card debt data reveals “two different Americas”

With bond yields dropping, lower mortgage interest rates may be on the horizon. That’s great for people who’ve put off buying a home because they felt priced out. But will rates fall enough to make homeowners with older, cheaper mortgages consider selling? Also in this episode: Buy now, pay later attracts vulnerable consumers, electric vehicle sales growth slows and product designers chase down copycat products.


Will mortgage rates follow bond yields down?

A stretch of the U.S. is under a heat advisory this week — but summer starts Thursday. When we talk about a “hot” economy, it’s usually a good thing, but in real life, extreme heat sends economic productivity downhill. We’ll get into why. Also in this episode: Retailers launch copycat sales to compete with Amazon Prime Day, Baltimore longshoremen are finally back to work and the bond market is booming.


The economy doesn’t love the heat, either

Housing affordability is on everyone’s mind — a new survey shows it’s a “somewhat to very important issue” for the majority of voters, especially younger ones. We’ll discuss whether housing has historically determined elections and get realistic about what a president can do about housing prices. We’ll also look at how the government measures housing costs for homeowners, even if their mortgages are paid off. Plus: The history of all-you-can-eat deals.


Will I ever own a home?

The job market is weakening, according to recent data. Higher unemployment is a good sign — if you’re the Federal Reserve and want to cut interest rates. It’s bad, of course, if you’re a job seeker. We tackle this paradox in today’s episode. Plus: Cities adjust their tech-hub dreams, improved hurricane forecasting saves billions in damage, and Black workers pay a high price in the clean energy transition.


What’s good for the economy might not be good for job seekers

Well, the Federal Reserve decided to stand pat on interest rates for now — and said it may make just one cut this year. In this episode, we break down the Fed’s latest move and look at which sectors are feeling the “lag effect” of rate hikes. Plus: Daycares are likely to raise prices as federal pandemic funding runs dry, and Fannie Mae’s chief climate officer says we should prepare for climate risk to become a bigger factor in the housing market.


Powell holds off on rate cuts

Remember in “Austin Powers” when Dr. Evil conspires to hold the world hostage for $1 million? Not much cash, right? Well, it was a lot back in the 1960s — the last time Dr. Evil was conscious. In this episode, Dr. Evil teaches us how to adjust for inflation. Plus: Grocery stores want to be community meeting places, AI-fueled ad spending rockets up, and small-business owners aren’t sure what the future holds.


One meeellion dollars!

As the Southwest prepares for 100-plus-degree days this week, we’ll look at where energy grids are prepared for a hot summer. A key factor? Whether grids have new electricity generators, like wind or solar plants. We’ll visit eastern Colorado, where clean energy jobs have been a boon for rural residents. Plus: More first-time homeowners enlist their parents as mortgage cosigners, and brands back away from trans representation, instead angling to keep both LGBTQ and transphobic customers.


The clean energy boom can’t come fast enough

May brought a surge of 272,000 new jobs, exceeding forecasts. Of those, 42,000 were in leisure and hospitality, benefitting from the summer travel season and increased wages. Also in this episode: a thousand options and nothing to watch. Netflix is getting a makeover for the first time in a decade, all with the goal of keeping subscribers hooked for longer.


Better-than-expected job growth

The European Central Bank delivered on its promise of June interest rate cuts, its first since 2019. The U.S. Federal Reserve is still deciding whether to do the same this year. But what the ECB does won’t affect the Fed’s decision, since European interest rates don’t impact U.S. job growth or prices. Also in this episode, the history of the federal jobs report, the cost of congestion pricing and the future of tourism on the Rio Grande.


What do interest rate cuts in Europe mean for the U.S.?

A Texas group is planning to open a Dallas-based stock exchange, it announced today. In an era when most stock trading is online, why does it matter that the exchange will be in Texas instead of New York? Also in this episode: Economists disagree on the power of the “wealth effect,” the co-working space industry tries to reinvent itself, and nanobubbles fight toxic algae in a Southern California lake.


Lone Star stock exchange

An April labor report released today shows that hiring, quitting and layoffs didn’t change much from the month before. In this episode, why no news is a sign we’re headed toward a pretty strong (as opposed to a once-in-a-lifetime) labor market. Plus, a traffic report of sorts: “supercommuter” rates rise, e-cargo bikes race ahead in popularity, and air travel isn’t luxurious anymore.


The “great stay”?

A tax break that started out as a way for the government to incentivize homebuying has primarily benefited the wealthy, research shows, while costing the U.S. government $30 billion a year in tax revenue. That amount may more than double in 2026. Also in this episode: OSHA works on new heat guidelines for the workplace, construction spending falls, and the Federal Reserve wants interest rates to be “neutral.”


Who benefits from mortgage interest tax breaks?

The economy is cooling, based on the latest inflation report, in part because American consumers are pulling back on spending. That’s good news for the Federal Reserve and its 2% inflation target. Also in this episode: GM says goodbye to the Malibu, OPEC+ members to talk about production quotas, and teen boys flock to luxury perfume counters.


Slowly, but surely, the economy is cooling 

Revised gross domestic product for the first quarter shows even slower growth than the original estimate. With U.S. GDP representing nearly a quarter of global output, what happens here can affect other economies. Also in this episode: why companies opt for machines over people, how cyberattacks affect small businesses, and what one South Gate, California, business owner thinks of prices.


Revised 1st-quarter GDP shows slower growth

A small neighborhood in the Phoenix area, full of farm animals and dirt roads, is in turmoil: A huge TSMC semiconductor plant, now under construction, is bringing with it a wave of commercial development and new residents. Champions of the project say the jobs and housing are sorely needed, but locals feel the transformation threatens their way of life. In this episode, we’ll visit the so-called Golden Triangle and meet stakeholders who include longtime residents, small-business owners, a city councilwoman and a real estate developer.


Breaking Ground: Change isn’t coming — it’s here

Commercial Israeli banks process transactions with Palestinian banks — about $10 billion in trade per year, and paychecks for tens of thousands of Palestinians with jobs in Israel. Normally, the government protects them legally if any funding finds its way into terrorists’ hands. Israeli finance minister Bezalel Smotrich recently threatened to end these waivers. In this episode, what could happen to the Palestinian economy if he follows through? Plus, what’s included in “cost of living” indexes, why consumer confidence is rising, and are we in a climate change housing bubble?


What could happen if Israel severs banking ties with the Palestinian economy

Nearly two-thirds of Americans drink coffee every day, according to the National Coffee Association. If you’re part of that 63%, you may have noticed coffee getting more expensive. Some of it has to do with the cost of the raw crop, which is at a 45-year high, partly due to climate change reducing yields. And it doesn’t help that global demand is growing. Also in this episode: Mexico City is in a water crisis, Zoom cashiers usher in a new wave of digital offshoring and machinery and other things-that-make-things purchases were up last month.


Why’s my coffee so expensive?

Per Bank of America’s annual workplace benefits report, more full-time workers are feeling secure in their jobs compared to last year. But there’s a catch: Those upbeat responses came from men, while the percentage of women who feel financially stable dipped slightly. Plus, the Federal Reserve’s inflation frustration, the SEC’s near-approval of spot ether ETFs and the federal tax code’s post-election future.
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For female workers, an ailing feeling about financial health 

This week, we got some gloomy news on the housing market: In April, new homes sales fell 4.7% and existing home sales dropped about 2% from the month before, and in May, homebuilder confidence took a dive. The most likely culprit? High mortgage rates. Also in this episode: Why DuPont is splitting its company into three, what Olympic and Paralympic athletes are doing to raise funds for Paris, and how business is going for a maker of custom cowboy boots in Virginia.
Our May fundraiser ends Friday, and we need your help to reach our goal. Give today and help fund public service journalism for all!
 


Bad housing news comes in threes

About 7% of U.S. adults have long COVID, according to a new survey by the Centers for Disease Control and Prevention. Many of those nearly 18 million people say their symptoms affect their ability to work. Disability accommodations could be the answer. Also in this episode, competitors work on catching up to AI chipmaker Nvidia, companies offer 401(k) matching of student loan payments and the Consumer Financial Protection Bureau starts regulating buy now, pay later platforms.
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Accommodations for long COVID

On Monday, JPMorgan Chase CEO Jamie Dimon hinted at retiring soon after running the banking powerhouse for 18 years. But finding replacements for veteran CEOs can be a tricky business. Also in this episode: New research finds that Native households are more financially stressed. Plus: Lowe’s invests in professional contractors, and Chicago vendors scramble after grocery stores shutter.
Our May fundraiser ends Friday, and we need your help to reach our goal. Give today and help fund public service journalism for all!


The complexity of succession planning 

Fast-casual sit-down restaurant chains have a lot on their plates right now. They’re unpopular with Gen Z customers, struggling to maintain reasonable prices and can’t compete with made-to-DoorDash options like Chipotle. Meanwhile, at the other end of the restaurant spectrum, reservations at trendy spots are hot tickets in resale markets. Also in this episode: The Port of Baltimore hopes for a return to normalcy, Texans gear up for a sweltering summer and homeowners in extreme weather-prone areas turn to state governments for insurance.
It’s your last chance to double your impact during our May fundraiser — the Investors Challenge Fund is matching donations up to $25,000 today! Give right now.


The future of dining

The Dow Jones Industrial Average closed above 40,000 for the first time on Friday. As we say regularly on this show, the stock market is not the economy. But it can still be a good indicator of how some folks are feeling about the state of the economy. Also in this episode: Competition for small-business spending heats up, EV sales take a dip, and purchasing power for all income levels rises.
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“The granddaddy of all stock indices”

Staying ahead is tough if you run a business — especially in this odd economic moment, where even affluent shoppers are picking low-cost alternatives. Whether you’re selling furniture, home goods or sheep’s wool, sometimes you have to adapt by targeting new markets. In this episode, three businesses doing just that. Plus, what a dip in weekly jobless claims might signal, why currency carry trades are risky, and how the bees made a comeback.
Marketplace is behind target for this budget year — that means listeners like you can make a critical difference by investing in our journalism today.


Walmart, Wayfair and . . . wool?

Looking at fresh economic data, retail sales were flat and some categories of food dropped in price from March to April. That indicates both falling inflation and a consumer spending pullback — good things if you’re the Federal Reserve. We’ll dig into the consumer price index and hear from Chicago Fed President Austan Goolsbee about the stickiest part of inflation right now. Plus, more women are employed than ever. Could that change as pandemic support programs expire?
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The inflation cooldown we’ve been waiting for?

President Joe Biden announced a slate of new tariffs on $18 billion worth of Chinese goods today, including electric vehicles, semiconductors, steel and aluminum. We’ll look at how the tariffs compare to those implemented under the Donald Trump administration and what they mean to business owners. Plus, the latest on salvage efforts in the Port of Baltimore, and a new federal rule encourages more long-distance power lines.
The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.


Biden hits Chinese goods with new  tariffs

Americans are feeling worse about the economy. And that’s partly to do with fears about lasting inflation. According to the latest data, consumers expect inflation to rise three-tenths of a percentage point a year from now. Also in this episode: Why people are eating less fast food, how employers are helping workers with addiction recovery and what lower demand for second homes means for the general housing market.


Consumer sentiment slumps

Commerce Secretary Gina Raimondo wants to position the U.S. to become a leader in semiconductor manufacturing. After all, the U.S. invented the industry not so long ago. The Biden administration has invested $30 billion in new factories, and companies have thrown in 10 times that sum. In this episode, Raimondo tells “Marketplace” host Kai Ryssdal where she hopes U.S. chip production will be by 2030. Plus, her broadband expansion plan and how she views our trade relationship with China.
 
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The Fed cut, but the T-note yield went up. Oops!

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